(a) Criminal and civil penalties.
(1) Section 8 of the BHC Act provides criminal
penalties for willful violation, and civil penalties for violation,
by any company or individual, of the BHC Act or any regulation or
order issued under it, or for making a false entry in any book, report,
or statement of a bank holding company.
(2) Civil money penalty assessments
for violations of the BHC Act shall be made in accordance with subpart
C of the Board’s Rules of Practice for Hearings (12 CFR 263, subpart
C). For any willful violation of the Bank Control Act or any regulation
or order issued under it, the Board may assess a civil penalty as
provided in 12 U.S.C. 1817(j)(15).
(b) Cease-and-desist proceedings. For any violation
of the BHC Act, the Bank Control Act, this regulation, or any order
or notice issued thereunder, the Board may institute a cease-and-desist
proceeding in accordance with the Financial Institutions Supervisory
Act of 1966, as amended (12 U.S.C. 1818(b) et seq.).
